Absa Bank Uganda Limited
{{short description|Commercial bank in Uganda}}
{{EngvarB|date=June 2025}}
{{Use dmy dates|date=June 2025}}
{{Infobox company
| name = Absa Bank Uganda Limited
| logo = 120px
| type = Subsidiary
| slogan =
| foundation = {{start date and years ago|1927}}
| location = Kampala, Uganda
| key_people = Keith Kalyegira (chairperson){{cite web| date=3 April 2025 |url=https://allafrica.com/stories/202504030454.html |title=Uganda: Absa Bank Uganda Appoints Keith Kalyegira As Board Chairperson |work=The Independent (Uganda) |author=The Independent Uganda |access-date=4 April 2025 |location=Kampala, Uganda}}
David Wandera
(managing director and CEO)
| num_employees = 850+ (2014)
| parent = Absa Group Limited
| assets = UGX:4.5 trillion (US$1.19 billion) (2023){{cite web| work=New Vision |date=17 April 2024 | url=https://www.newvision.co.ug/category/business/absa-reports-15-growth-in-revenues-NV_186125/ |title=Absa Reports 15 Percent Growth In Revenues |author=Ali Twaha |access-date=19 April 2014 |location=Kampala, Uganda}}
| revenue = {{profit}} Aftertax:UGX:146 billion (US$38.6 million) (2023)
| industry = Financial services
| products = Loans, checking, savings, investments, debit cards
| homepage = {{URL|https://www.absa.co.ug/}}
}}
Absa Bank Uganda Limited, formerly known as Barclays Bank of Uganda Limited, is a commercial bank in Uganda. It is licensed by the Bank of Uganda, the country's central bank and national banking regulator.{{cite web |url=https://www.monitor.co.ug/Business/Finance/ABSA-Uganda-officially-drops-Barclays-brand-tag/688608-5345780-mv8h5k/index.html |title=ABSA Uganda Officially Drops Barclays Brand Name |newspaper=Daily Monitor |date=12 November 2019 | access-date=12 November 2019 |author=Uganda Radio Network | place=Uganda}} The bank is a subsidiary of Absa Group Limited, a financial services conglomerate, based in South Africa, with banking subsidiaries in 12 African countries and representative offices in two other African countries.{{cite web |title=Absa Group Limited: About Us |publisher=Absa Group Limited |access-date=27 March 2020 |url=https://www.absa.africa/absaafrica/about-us/ |year=2020}} Absa Bank Group, whose shares trade on the JSE Limited, was reported to have total assets in excess of US$91 billion, as of October 2019.{{cite web |publisher=Club of Mozambique | url=https://clubofmozambique.com/news/barclays-in-mozambique-rebranding-as-absa-bank-145292/ |title=Barclays in Mozambique rebranding as Absa Bank |date=23 October 2019 |access-date=27 March 2020 |author=Adrian Frey |location=Maputo}}
Overview
The bank is primarily involved in meeting the banking needs of individuals, small and medium-sized businesses (SMEs), and large corporations. Before 2006, the bank focused on meeting the banking needs of only large corporations and high-net-worth individuals. That focus was loosened to include SMEs and regular customers.{{cite web|work=Barclays Bank Uganda | url=http://www.barclays.co.ug/personal/about-us/index.html | title=Overview of Barclays Bank Uganda |access-date=2 May 2014}} As of December 2023, the bank's total assets were valued at UGX:4.5 trillion (US$1.19 billion). At 31 December 2021, shareholders' equity was valued at UGX:521.956 billion (US$148 million).{{cite web| url=https://www.theeastafrican.co.ke/tea/business/absa-uganda-profit-up-as-bad-debts-shrink-3784114 |title=Absa Uganda profit up as bad debts shrink |work=The EastAfrican |date=16 April 2022 |author=Esiara Kabona |access-date=18 April 2022 | location=Nairobi, Kenya}} That year, the bank's after-tax profit was USh:110 billion (US$31.2 million).{{cite web| url=https://www.pmldaily.com/business/2022/04/absa-bank-uganda-records-ugx110-billion-in-profits-in-2021.html |title=Absa Bank Uganda records UGX110 billion in profits in 2021 |work=PML Daily | date=12 April 2022 |author=Javira Ssebwami |access-date=18 April 2022 |location=Kampala, Uganda}} As of 31 December 2019, Absa Bank Uganda was the third-largest commercial bank in the country, by assets.{{cite web| work=CEO Magazine Online | url=https://www.ceo.co.ug/absa-bank-ugandas-assets-reach-ugx3-4-trillion-moves-from-fifth-to-third-largest-bank-by-assets/| title=Absa Bank Uganda's Assets Reach UGX3.4 Trillion, Moves From Fifth To Third Largest Bank, By Assets |date=4 May 2020 |access-date=5 May 2020 |author=Muhereza Kyamutetera |location=Kampala}} As of December 2022, Absa Bank Uganda has assets valued at USh4.23 trillion (approx. US$1.143 billion), accounting for 9.31 per cent of total banking assets in the country at that time.{{cite web|title=Exclusive: Largest & Smallest Banks By Assets Named As Total Industry Assets Hit Shs45.4Tn In 2022 |url=https://businessfocus.co.ug/exclusive-largest-smallest-banks-by-assets-named-as-total-industry-assets-hit-shs45-4tn-in-2022/ |work=Business Focus Uganda |date=9 May 2023 |author=Taddewo William Senyonyi |access-date=24 August 2023 |location=Kampala, Uganda}}
History
The bank opened in 1927, with two branches in the capital city, Kampala, and one in Jinja, the country's second-largest commercial centre, at that time. In 1969, the bank acquired the Ugandan business of the Commercial Bank of Africa.{{cite web | url=https://www.ug.barclaysafrica.com/about-us/ | title=Barclays Africa Group: Uganda: About Us: 1969 | access-date=31 December 2017 | date=31 December 2017 | publisher=Barclays Africa Group | author=Barclays Africa Group | location=Johannesburg | archive-date=14 June 2018 | archive-url=https://web.archive.org/web/20180614071955/https://www.ug.barclaysafrica.com/about-us/ | url-status=dead }} In February 2007, the bank completed its acquisition of Nile Bank Uganda Limited, strengthening its presence in the country.{{cite web |access-date=4 August 2014 | date=20 December 2006 | url=http://ugandaradionetwork.com/a/story.php?s=8954 | title=Barclays Confirms Purchase of Nile Bank | publisher=Uganda Radio Network (URN) | author=URN| location=Kampala}}{{cite web | date=22 January 2007 | access-date=4 August 2016 | last=Lori Chang | url=http://www.microcapitalmonitor.com/cblog/index.php?/archives/604-UK-Based-Financial-Services-Group-Barclays-Buys-Niles-Bank-of-Uganda-and-Plans-to-Enter-Microfinance-Sector-in-Uganda.html#extended | title=UK-Based Financial Services Group Barclays Buys Nile Bank of Uganda and Plans to Enter Microfinance Sector in Uganda | publisher=MicroCapital | archive-url=https://web.archive.org/web/20161003215356/http://www.microcapitalmonitor.com/cblog/index.php?%2Farchives%2F604-UK-Based-Financial-Services-Group-Barclays-Buys-Niles-Bank-of-Uganda-and-Plans-to-Enter-Microfinance-Sector-in-Uganda.html#extended | archive-date=3 October 2016 | url-status=dead }}
Ownership
In 1969, the bank's stock was 51 per cent held by Barclays and 49 per cent held by the government of Uganda. By 2001, the bank had become a wholly owned subsidiary of Barclays.{{cite web |access-date=30 August 2015 |date=30 August 2015 | publisher=Barclay Bank | url=https://www.archive.barclays.com/items/show/5358 | title=Founding banks and building societies: Barclays Bank of Uganda Limited}} Since March 2016, the bank has been wholly owned by the Barclays Africa Group.{{cite web | url=http://allafrica.com/stories/201603072234.html | title=Uganda: Barclays to Get New Owners | date=8 March 2016 | newspaper=The Independent (Uganda) via AllAfrica.com | first=Isaac | last=Khisa |access-date=8 March 2016 |location=Kampala}} With the re-branding of Barclays Africa Group, in 2018, Absa Bank Uganda is a 100 per cent subsidiary of Absa Group Limited.{{cite web| url=http://www.monitor.co.ug/Business/Barclays--becomes-Absa/688322-4325342-31vh0g/index.html |title=Barclays becomes Absa |access-date=21 July 2018 |date=2 March 2018 |last=Adengo | first=Jonathan |newspaper=Daily Monitor |location=Kampala}}
Branch network
The bank's headquarters is at 2 Hannington Road, on Nakasero Hill, in Kampala. {{asof|July 2013}}, the bank maintained branches at the following locations:{{cite web | url=http://www.barclays.co.ug/personal/branches/index.html |
title=List of Branches of Barclays Bank Uganda | publisher=Barclays Bank Uganda | access-date=2 May 2014}}{{cite web | url=http://www.observer.ug/index.php?%20option=com_content&view=article&id=23162:barclays-closes-branches-atms&catid=79:businesstopstories | title=Barclays Closes Branches, ATMs | date=15 January 2013 | first=Alon | last=Mwesigwa | publisher=The Observer (Uganda) | access-date=2 May 2014}}
{{columns-list|colwidth=22em|
- Bugoloobi Branch – 128 Spring Road, Bugoloobi, Kampala
- Hannington Road Branch – 2 Hannington Road, Nakasero, Kampala Main Branch
- Premier Banking Branch – Hannington Road at Shimoni Road, Nakasero, Kampala
- Garden City Prestige Centre – Garden City, Yusuf Lule Road, Kampala{{cite web|url=http://www.newvision.co.ug/D/8/220/664578 |archive-url=https://archive.today/20140503015705/http://www.newvision.co.ug/D/8/220/664578 |url-status=dead |archive-date=3 May 2014 |title=Multi Billion Shopping Center Opens In February 2009 |publisher=New Vision |date=14 December 2008 |access-date=2 May 2014 |first=Kiganda |last=Ssonko }}
- Kampala Road Branch – 16 Kampala Road, Kampala
- Kansanga Branch – 529 Ggaba Road, Kansanga, Kampala
- Kawempe Branch – Katongole Building, 2522 Masindi Highway, Kawempe, Kampala
- Kireka Branch – 174 Kampala-Jinja Highway, Kireka
- Lubowa Branch – Quality Hill Shopping Complex, 1621 Lubowa Estate, Lubowa
- Lugazi Branch – 121 Kampala Road, Lugazi
- Lugogo Branch – 2–8 Lugogo Bypass Road, Lugogo
- Luwuum Street Branch – Luwum Street, Kampala
- Nakawa Branch – URA Customs Building, 1–3, Sebei Lane, Nakawa, Kampala
- Naakulabye Branch – 1254 City Petrol Station, Makerere Hill Road, Naakulabye
- Ndeeba Branch – 479 Masaka Road, Ndeeba, Kampala
- Ntinda Branch – Ntinda Shopping Mall, Kimera Road, Ntinda, Kampala
- Ovino Market Branch – Ovino Market, Kampala{{cite web|url=http://www.newvision.co.ug/D/8/220/629233 |archive-url=https://archive.today/20140503020752/http://www.newvision.co.ug/D/8/220/629233 |url-status=dead |archive-date=3 May 2014 |title=Banks Rush for Ovino Market Shops |publisher=New Vision |date=21 May 2008 |access-date=2 May 2014 |first=Mikaili |last=Sseppuya }}
- Parliament Ave Branch – IPS Building, 14 Parliament Avenue, Kampala
- Rwenzori Courts Branch – 1 Lumumba Avenue, Nakasero Hill, Kampala
- Shauriyako Branch – 34–38 Nakivubo Road, Kampala
- Tankhill Parade Branch – 2683 Kisugu-Muyenga Road, Muyenga, Kampala
- UN Base Branch – United Nations Base, Entebbe
- Wandegeya Branch – 170 Bombo Road, Wandegeya, Kampala
- Abaita Ababiri Branch – Entebbe-Kampala Road, Abayita Ababiri
- Kitoro Branch – Kitoro, Entebbe
- Masaka Branch – 2 Broadway Street, Masaka
- Mukono Branch – Best Meals Building, Mukono
- Busia Border Branch – Busia Customs Yard, Busia
- Iganga Branch – 85 Main Street, Iganga
- Jinja Branch – 81 Main Street, Jinja
- Mbale Branch – Republic Street, Mbale
- Soroti Branch – 40 Gweri Road, Soroti{{cite web|last=Omoding |url=http://www.newvision.co.ug/D/8/220/628632 |title=Barclays Goes To Soroti |newspaper=New Vision (Kampala) |date=18 May 2008 |first=John |access-date=2 May 2014 |url-status=dead |archive-url=https://web.archive.org/web/20150518112522/http://www.newvision.co.ug/D/8/220/628632 |archive-date=18 May 2015 }}
- Tororo Branch – 4 Mbale Road, Tororo
- Arua Branch – 1D Transport Road, Arua
- Gulu Branch – 32 Gulu Avenue, Gulu
- Lira Branch – 10 Soroti Road, Lira
- Fort Portal Branch – 14 Bwamba Road, Fort Portal
- Hoima Branch – 56 Main Street, Hoima
- Ishaka Branch – Ishaka
- Kabale Branch – 190 Main Street, Kabale
- Kasese Branch – 68 Rwenzori Road, Kasese
- Masindi Branch – 77 Port Road, Masindi
- Mbarara Branch – 66 High Street, Mbarara
}}
Name change
Beginning in August 2019, Barclays Bank of Uganda began re-branding to Absa Bank Uganda Limited.{{cite web| url=https://observer.ug/businessnews/61656-barclays-bank-starts-rebranding-to-absa |title=Barclays Bank Starts Rebranding To Absa |date=15 August 2019 |work=The Observer (Uganda) |access-date=8 November 2019 |author=Alfred Ochwo |place=Kampala}} The process concluded on 11 November 2019, when the legal and business names of the bank changed to Absa Bank Uganda Limited.{{cite web|date=11 October 2019 |publisher=Uganda Radio Network |title=Barclays Uganda to Become Absa Uganda On November 11th |access-date=11 November 2019 |author=Mwesigwa Alon | url=https://ugandaradionetwork.net/story/barclays-uganda-to-become-absa-uganda-on-november-11th |place=Kampala}}{{cite web|url=https://www.softpower.ug/bou-issues-licence-to-absa-uganda-after-rebranding-from-barclays-bank/ |title=BOU Issues Licence To Absa Uganda After Rebranding From Barclays Bank |publisher=SoftPower Uganda |date=11 November 2019 |access-date=11 November 2019 |author=Paul Ampurire |place=Kampala}}
Governance
The bank is governed by a board of directors. The chairman of the board is one of the non-executive directors. As of April 2025, the Chairperson was Keith Kalyegira. The CEO and managing director in acting capacity is David Wandera.{{cite web|
work=Daily Monitor |date=16 December 2024 |access-date=4 March 2025 | url=https://www.monitor.co.ug/uganda/news/national/wandera-named-absa-interim-chief-executive-after-mumba-joins-stanbic--4859346 |title=Wandera named Absa interim chief executive after Mumba joins Stanbic |location=Kampala, Uganda}}
In March 2020, the Acting Chairperson was Nadine Byarugaba.{{cite web| url=https://nilepost.co.ug/2020/03/19/absa-uganda-gets-new-managing-director/ |title=Absa Uganda gets new Managing Director |work=Nile Post Uganda |date=19 March 2020 |access-date=19 March 2020 |author=Kenneth Kazibwe |place=Kampala}} She left in December 2024.{{cite web|url=https://www.pmldaily.com/business/2024/12/absa-bank-uganda-bids-farewell-to-outgoing-board-chairperson-nadine-byarugaba.html |title=Absa Bank Uganda bids farewell to outgoing board chairperson Nadine Byarugaba |work=PML Daily |date=2 December 2024 |author=Javira Ssebwami |access-date=3 December 2024 |location=Kampala, Uganda}} From 1 April 2020 Mumba Kalifungwa began serving as the substantive managing director and CEO.{{cite web| url=https://www.monitor.co.ug/Business/Finance/Absa-Mumba-Kalifungwa-managing-director-Byarugaba-UK/688608-5496670-bdhnxy/index.html |title=Absa appoints Mumba Kalifungwa new Absa Uganda MD |newspaper=Daily Monitor |date=19 March 2020 | access-date=19 March 2020 |author=Ashita Chopra | location=Kampala}} He left in March 2025 and joined Stanbic Bank Uganda Limited as CEO.
Before that, the former managing director is Mian Nazim Mahmood. He was appointed in July 2019, as Interim CEO, while a substantive chief executive was being sought. Nazim holds a Bachelor of Business Administration degree, awarded by the University of Massachusetts, Amherst and a Master of Business Administration in Finance from Bentley College, in Waltham, Massachusetts, all in the United States.{{cite web|newspaper=The Independent (Uganda) |url=https://www.independent.co.ug/barclays-bank-of-uganda-managing-director-rakesh-leaves/ |title=Barclays Bank Uganda Managing Director Rakesh Leaves |date=16 July 2019 |access-date=11 November 2019 |author=Julius Businge |location=Kampala}} Before that Rakesh Jha served in that position. He holds an MBA in Marketing gained from IMED and a Bachelor of Arts (BA) degree gained from the University of Mumbai. Immediately prior to his appointment as managing director, Jha was managing director of Barclays Bank Seychelles.{{cite web |date=15 September 2014 | url=http://www.nation.sc/article.html?id=242995 | title=James Kinyany Appointed Barclays Seychelles' Interim Managing Director |access-date=9 September 2014 |last=Nation Reporter |newspaper=Seychelles Nation |location=Seychelles}}
As of March 2025, the members of the board are as listed in the table below.{{cite web| work=Nile Post Uganda |date=28 October 2021 | url=https://nilepost.co.ug/2021/10/28/absa-bank-uganda-appoints-new-board-members/ |title=Absa Bank Uganda appoints new board members |author=Kenneth Kazibwe |
access-date=28 October 2021 |location=Kampala, Uganda}}
Innovation
In December 2021, Absa Bank Uganda was the first financial institution in the country to introduce ATM machines capable of accepting and dispensing cash, using smart mobile phones, without the presence of the traditional ATM card. The Absa Banking App generates a QR Code, which the customer scans on to the ATM screen and then allows the execution of the desired transaction.{{cite web| work=New Vision | url=https://www.newvision.co.ug/articledetails/122400/new-digital-solution-to-ease-banking-experien |date=15 December 2021 |title=New digital solution to ease banking experience | author=Lydia Labanya |access-date=15 December 2021}}{{cite web|url=https://pctechmag.com/2021/12/absa-bank-cardless-withdraw-functionality/#:~:text=Absa%20Bank%20Uganda%20has%20introduced,at%20any%20Absa%20ATM%20countrywide. |title=Absa Bank Customers Can Now Withdrawal Money Using QR Codes |work=PCTechMag.com |date=14 December 2021 |author=Joan Banura |access-date=15 December 2021 | place=Kampala, Uganda}}
See also
References
{{reflist|30em}}
External links
- [http://businessfocus.co.ug/exclusive-ugandas-largest-banks-by-assets-revealed/ Exclusive: Uganda’s Largest Banks By Assets Revealed] As at 24 May 2017.
- [https://www.pmldaily.com/business/2019/11/bou-hands-license-to-absa-uganda-to-formalise-name-change.html BoU hands license to Absa Uganda to formalise name change] As of 11 November 2019.
{{Authority control}}
{{Absa|state=collapsed}}
{{Kampala District}}
{{coord|00|19|14.5|N|32|35|12|E|display=title}}
Category:Banks established in 1927
Category:1927 establishments in Uganda